This paper studies multi-agent optimal contracting with cost synergies. We model synergies as the extent to which …

This paper presents evidence of banks using accounting discretion to overstate the value of distressed assets. In … favorably to recent changes in accounting rules that relax fair value accounting. Banks with large exposures to mortgage … recent changes that relax fair value accounting may further distort this picture. …

equity capital at IPO. Third, the adoption of US GAAP accounting standards substantially increases firms’ ability to raise …

We apply a simple method to study the relative quality of Chinese versus European products exported in the clothing … change of export prices and quantities sold in narrowly defined product categories as an indicator of quality shifts. Using … indication of China moving up the quality ladder in its clothing exports relative to the EU. While European ‘core’ products in …

This paper develops a methodology to compare the quality of examination services across patent offices. Quality is … EPO provides higher-quality and more expensive services than the USPTO, while the JPO is in an intermediate position … Lerner's (2004) conjecture of a vicious cycle between quality of examinations and demand for patents; and 2) highlight the …

Performance indicators are increasingly used to regulate quality in health care and other areas of the public sector …) higher ability increases quality directly and indirectly (through a lower marginal cost of quality); b) the provider can game … impact on quality, quality effort is lower and distortions from informational rents are higher; under some conditions more …

Investigations of the effect of quality differences on heterogeneous performance in exporting have been limited by lack … of direct measures of quality. We examine exports of French wine, matching the exporting firms to producer ratings from … two wine guides. We show that high quality producers export to more markets, charge higher prices, and sell more in each …